JP Morgan trader pleads guilty to manipulating US metals
Posted:
Wed Nov 07, 2018 2:13 pmby highroller4321
https://www.cnbc.com/2018/11/06/ex-jp-m ... eeIbwsab0oThis might explain why, on a regular basis, around 10am PST the price would jump and then fall quickly again.
Re: JP Morgan trader pleads guilty to manipulating US metals
Posted:
Wed Nov 07, 2018 5:18 pmby Recyclersteve
They had a lady at J.P. Morgan named Blythe Masters back in the day, who was in charge of the traders. She was widely credited for developing the credit default swap (CDS), an instrument considered so dangerous by many that it was a good part of the reason for the near collapse of insurance giant AIG in September, 2008.
As a result of instruments like CDS's, AIG went to the federal govt. on 9/15/08 and demanded a $100 BILLION bailout or they would have to go bankrupt. (This was the same day that Lehman Bros. declared bankruptcy.) AIG ended up getting something like $152 billion when all was said and done.
I'd love to see these metals manipulators have the book thrown at them and I am very disappointed that Ms. Masters never went to jail (along with a bunch of others that contributed).
Re: JP Morgan trader pleads guilty to manipulating US metals
Posted:
Sun Dec 02, 2018 8:43 amby Cu Penny Hoarder
And the bankers NEVER go to jail, they just pay fines. They consider the fines a cost of doing business.
Just like Biff Tannen... they OWN the police!